newstodate.aero
SEP 11, 2003 (newstodate): SAS has acquired 49 percent of the shares in Estonian Air from Maersk Air.
In the same deal, SAS has obtained rights to further expand its ownership by taking a further stake in the stock from Estonian investment bank, AS Cresco that currently holds 17 percent.
SAS has also acquired all shares in the Tallinn-based aircraft maintenance company, Maersk Air Maintenance Estonia A/S.
Estonian Air was established in 1991, and Maersk Air acquired its 49 percent of the shares during the privatization of the airline in 1996.
SAS' acquisition of Estonian Air is part of its over-all Baltic strategy, considered part of SAS' enlarged home market.
Earlier this year, SAS withdrew from its bid for a 34 percent stake in Lithuanian Airlines, but SAS already holds 49.2 percent of the shares in the third carrier in the Baltic region, airBaltic.
In the same deal, SAS has obtained rights to further expand its ownership by taking a further stake in the stock from Estonian investment bank, AS Cresco that currently holds 17 percent.
SAS has also acquired all shares in the Tallinn-based aircraft maintenance company, Maersk Air Maintenance Estonia A/S.
Estonian Air was established in 1991, and Maersk Air acquired its 49 percent of the shares during the privatization of the airline in 1996.
SAS' acquisition of Estonian Air is part of its over-all Baltic strategy, considered part of SAS' enlarged home market.
Earlier this year, SAS withdrew from its bid for a 34 percent stake in Lithuanian Airlines, but SAS already holds 49.2 percent of the shares in the third carrier in the Baltic region, airBaltic.